Encourage future CFOs to step out of their financial bubble more often
In 2026, CFOs will mostly still have a background as certified public accountant or economist, a profile that is increasingly lacking for a role that is becoming more strategic and business-oriented. Finance and compliance remain crucial, but a broad perspective on the business is just as important. Internationally, we are seeing more CFOs with technical backgrounds or an MBA.
In addition, their scope of responsibility continues to expand. With massive investments in technology such as AI and cloud platforms, CFOs now need to also critically assess returns, risks, and impact on the organization. In the past, a CFO could say, ‘Here is thirty million euros; beyond that is not my responsibility.’ Today, however, the CFO has more and more skin in the game when it comes to organizational transformations. Future CFOs must move beyond their traditional financial role and take on a greater leadership role in steering the organization.
This shift is also evident in executive search: as the demand for strategic CFOs increases, the profile is changing. First and foremost, the CFO is a driver of value creation. He or she must therefore understand how the business works. Future CFOs must also be able to look ahead and translate financial figures into forecasts that identify where the greatest opportunities lie. As a result, the CFO is increasingly seated alongside the executive responsible for commercial operations, and the CFO often bears ultimate responsibility for IT – which, in the age of AI, has become the beating heart of the organization.
Talent pipelines
The question is whether traditional talent pipelines still align with the demands placed on the CFO of tomorrow. Historically, CFOs have advanced through two paths: through the audit function or through a career within a company. The first provides a solid foundation in finance and governance but does not ensure the broad business knowledge required. An accounting or finance background remains valuable, but increasingly requires supplementation with operational and strategic experience.
The second path runs through the corporate world. This route, too, is under pressure. For a long time, companies like Shell and Unilever would send talented employees from the Netherlands to international postings, allowing them to return with broad experience. But large corporations are increasingly relocating their operations and headquarters abroad. This limits career opportunities for finance professionals.
Furthermore, the various finance roles are becoming more narrowly defined due to complex matrix structures within organizations. Expertise tends to remain concentrated at the holding company level for a long time. As a result, finance professionals take on their first ‘true’ profit-and-loss (P&L) role much later in their careers and have less opportunity to learn and develop critical leadership skills. They also gain less experience dealing with external stakeholders.
The career aspirations of young finance professionals also pose a challenge: they are eager to advance quickly. As a result, the broad experience required for a CFO role can be compromised. This presents a challenge for organizations: they need to demonstrate that a lateral move or a temporary position outside of finance does not have to slow down a career, but rather better prepares someone for their next step.
Thoughtful talent management
How can organizations bring on board the well-rounded, strategically adept CFO of tomorrow? Surprisingly, they often hold the key themselves, but rarely use it. For example, many organizations lack robust succession planning. This is a missed opportunity, because by investing thoughtfully in talent management and providing broad training for high-potentials companies can usually ensure a suitable candidate is ready to step up. While this may not always work out, it should certainly be the goal.
In practice, many CFOs are recruited from outside the organization. Few ‘home-grown’ talents make it into the boardroom. A key reason is that supervisory boards and companies with private equity owners tend to be risk-averse: they look for someone who has previously served as a CFO and are therefore less likely to choose an internal candidate. Talented finance professionals within the organization thus receive the painful message that they are not good enough. This can be explained away once, but if it happens repeatedly, the message sticks.
Currently, companies focus primarily on experience and existing competencies and overlook potential – what an individual could still learn, or how they might grow into the role. The good news is that CFOs are increasingly advancing to the position of CEO. The CFO has typically had a seat at the board table for years, has a firm grasp of the substance of the business and knows the company dynamics better than anyone else.
Attractiveness and diversity
Still, it pays to develop talent in-house. It fosters a healthy, robust finance organization. When employees rotate regularly and take on different roles, the likelihood of a future CFO who has seen the entire organization and has experience engaging with stakeholders, perhaps through an investor relations role or a position in which they observed how decisions are made at boardroom level, increases.
It also enhances your attractiveness as an employer. Professionals who know they can advance to the role of CFO bring positive energy to an organization. Candidates are more likely to choose you over a company where talent management is less of a priority.
An additional benefit is that organizations can better steer toward diversity. This remains a challenge for the current and next generation of CFOs. Although there are many talented women in finance departments, they often drop out in the final two steps toward the board. When it comes to cultural diversity, the picture is even bleaker: representation in the two management layers directly below the board is ‘very thin.’ Those who take talent management seriously can better foster diversity. Consider leadership programs that support (talented) women at pivotal moments in their careers, such as when returning from maternity leave. Or start by specifically recruiting and mentoring people from diverse cultural backgrounds. Those who keep selecting the same people should not be surprised when progress fails to materialize.
Grit and agility
Although there is great potential within the new generation of finance professionals, the development of leadership and vision requires extra attention. Executives are expected to have the courage to engage in difficult conversations – with fellow board members and supervisory board members alike – while demonstrating authority and persuasiveness. As former Heineken CFO René Hooft Graafland once put it: ‘A good CFO does not stand at the edge of the dance floor; they step onto it.’ This demands ‘grit and agility.’ Many finance professionals still stand on the sideline, analyzing events, when they should instead be actively steering the course and driving change.
Organizations could better support CFOs in this regard. Career paths for commercial roles and future CEO positions are often clearly mapped out: individuals are encouraged to engage and make themselves visible, lead a business unit, or participate in management trainee programs. Such structured development has largely been missing for financial talent, so there is work to be done. Future CFOs, in particular, need to step out of their financial bubble during their careers and develop their breadth of expertise and leadership skills. This will prepare them for shouldering the more demanding and complex responsibilities that will eventually rest on their shoulders.
This article was published in Management Scope 09 2026.